GET Protocol (GET) Review
GUTS Tickets, an intelligent smart contract ticketing business in operation, has developed a solution to the issues faced by the ticketing industry. The GET Foundation is creating a protocol that may be used by ticketing businesses as a backbone API/protocol. GUTS uses technology to produce a fully honest, transparent stream of ticket value for all participants. It will enable users to see what tickets they pay for in real-time and not have to wait for tickets to be scanned.
The Problems With The Ticket Market
The secondary market is where ticket scalpers get primary market tickets before they can be bought by the fans. Ticket sales promote future events even before tickets are issued on the primary market. In certain instances, touts arrange to purchase specific initial tickets with main ticketing firms before they go on sale. They may sell them for a price considerably greater than the initial price.
Fraud is the most unpleasant form of secondary ticketing. The validity of a ticket is established by ink written on a single piece of paper or by a picture in a PDF file, which makes it as simple as to conduct a ticket scam by making a copy.
Intermediaries may cause difficulties for event organizers and producers of content, including poor ticketing and being unable to get the appropriate audience. Outrageously high ticket costs can cause friction between disgruntled fans and content producers who are themselves unable to regulate secondary-market retail pricing. Event organizers face all the financial risks, yet they have little or no influence over ticket sales since it is impossible for a ticketing firm to issue tickets.
Current methods to eliminate excessive secondary ticket pricing remain insufficient. Governments will not offer a worldwide answer to the issue. Even when rules are in place, the growth of internet marketplaces has weakened the government’s ability to regulate.
The method ticketing firms keep data for event tickets has been exposed by security experts. They claim that bad actors may generate a barcode that is unique but not genuine when customers are trying to use it to attend an event. The information is encrypted but not encrypted exclusively, so that anybody with a smartphone may scan and decode it.
The shortage of tickets for events coupled with the uncontrolled structure of the market guarantees that resellers will always be able to utilize them, ending with consumers having to pay excessive secondary ticket prices. Some primary ticketing and secondary ticketing companies are well known to be subsidiaries of the same parent company.
The Solution The GET Protocol Provides
The underlying cause of the problem should be a solution to the problems presented by the secondary market. It needs to eliminate the possibility of reselling tickets at a higher price with extra costs and needless fees. The protocol of the Guaranteed Entrance Token (GET) has been designed from the ground up to solve the present problems in the ticking marketplace.
What Are Smart Tickets?
The GET Protocol is made solely of smart contracts that enable events and tickets to be created and validated on the blockchain. The issuance and sales of tickets in primary and secondary ticket markets, as well as the distribution of ticket sales income and market/event fees among participants, are monitored and carried out on these smart contracts. In order to make the protocol competitive versus existing off-chain alternatives and ensure maximum adoption, minimum costs are charged for the usage and production of these contracts.
What are the GUTS Tickets?
GUTS Tickets is a ticket business established on Blockchain by three Dutch entrepreneurs in March 2016. The business employs eight developers and has received numerous accolades for innovation in both the Netherlands and Europe. It has cooperated with some of the most renowned comedians to promote a fully transparent ticketing goal.
What Are GET Crypto Tokens?
The Guaranteed Entrance Token (GET) addresses the broken market for event tickets. The GET is an ERC20 token constructed over the Ethereum network. GET will serve as the exchange unit for transactions and administrative expenses spent on ticketing.
The GET Protocol is a new approach to digital asset storage and transmission. Users will be given a unique smart wallet under the GET Protocol, which provides safe storage, transfer, and digital asset processing for everyone inside the ecosystem. A consumer’s GET Protocol account is linked to his identification so that these customers utilize the same intelligent wallet for every event they participate in.
A customer utilizing the GET Protocol must spend a specific amount of GET to buy, use, or sell a smart ticket. The GET purchase for users is integrated with the checkout flow when a ticket is purchased. This implies that the purchase price of the minimum GET amount* should be applied to the ticket application at checkout.
After a consumer pays in FIAT, GET is deposited into the user’s wallet and the intelligent ticket is attached to the account of the customer. After purchasing and utilizing a smart ticket for an event, a user may have a ‘residual’ GET balance (residue). This implies that the user has to pay the GET Foundation fewer transaction fees next time he or she utilizes them.
How To Buy A Smart Ticket
When a person buys a ticket for an event, it may be utilized in various ways. The most popular method is to buy a ticket and attend the event. An instance of a more complicated route is a user purchasing a ticket and selling it using the GET Protocol. Varying routes lead to different prices for users. Different fees are applied depending on user activity.
The Token Economy Ecosystem
The GET Protocol is more than simply an intelligent ticketing application that addresses both primary and secondary ticketing industry inefficiencies. The standardization features of the protocol may also make further optimization of the event and ticket markets possible. Direct payments, regulated internal markets for event-specific assets, and the ability to securely deal with other actors of the protocol are all feasible because each actor is provided with a smart wallet allocated to its particular identity.
Is the GET Protocol Legit?
Yes, it is a legit foundation that has been established for the creation of the GET Protocol. This foundation was established in the Netherlands and in accordance with Dutch legislation. It is named the ‘GET Protocol Foundation Stichting‘ (trade registry number 69771138).
GUTS Tickets is a new start-up to eliminate ticket intermediaries. GUTS Tickets already sells and actively sells blockchain tickets through its intelligent ticketing platform. Hekwerk Theater productions, one of the Netherlands’ leading theater companies, collaborated with GUTs and its crew. Several famous artists also supported the idea.
Further GET Protocol Information
- GET Protocol
- Price $1.42
- Market Cap